MP3.COM LOSES SPIEGEL
MP3.com announced today that Executive Vice President Tom Spiegel has left the building. Spiegel, former cronie of Michael Milken from the go-go ’80s Drexel Burnham days, was responsible for business development and MP3.com’s deals transactions groups. According to the company, President/COO Robin Richards will assume Spiegel’s duties.
Though MP3.com’s statement indicated that Spiegel is leaving to "pursue other business interests" and Chairman/CEO Michael Robertson waxed rhapsodic about his contributions ("We have benefited greatly from Tom’s many contibutions"), the sudden departure begs the question of whether MP3.com’s currently embattled position--the company’s stock has sagged badly and it is contending with a lawsuit filed by the RIAA--hasn’t bred friction among the company’s executive ranks.
At presstime, shares in MP3.com were down 13/16 to 23 3/16.
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